Osmosis Investment Management UK Ltd Buys Shares of 6,602 Cincinnati Financial Corporation $CINF

Key Points

• Osmosis Investment Management bought 6,602 shares of Cincinnati Financial in the second quarter, worth approximately $1.22 million. Institutional investors collectively own 65.24% of the company.
• Cincinnati Financial reported quarterly EPS of $1.43, below analyst expectations of $1.82, despite revenue of $4.27 billion. Analysts expect full-year EPS of approximately $8.31.
• The company declared a quarterly dividend of $0.94 per share, equivalent to $3.76 annually and a 2.2% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $195.40.

Osmosis Investment Management UK Ltd bought a new position in Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 6,602 shares of the insurance provider's stock, valued at approximately $1,222,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Bison Wealth LLC acquired a new position in Cincinnati Financial in the fourth quarter worth approximately $210,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Cincinnati Financial by 2.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,112 shares of the insurance provider's stock valued at $2,823,000 after acquiring an additional 525 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Cincinnati Financial by 43.9% in the first quarter. Goldman Sachs Group Inc. now owns 567,894 shares of the insurance provider's stock valued at $83,889,000 after acquiring an additional 173,343 shares during the last quarter. Federated Hermes Inc. acquired a new stake in Cincinnati Financial in the second quarter valued at approximately $101,000. Finally, Cerity Partners LLC grew its position in Cincinnati Financial by 10.8% in the second quarter. Cerity Partners LLC now owns 47,774 shares of the insurance provider's stock worth $7,115,000 after acquiring an additional 4,674 shares in the last quarter. 65.24% of the stock is owned by hedge funds and other institutional investors.

Cincinnati Financial Price Performance

Shares of Cincinnati Financial stock opened at $171.21 on Tuesday. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.05. The firm has a fifty day simple moving average of $178.00 and a 200-day simple moving average of $168.63. The stock has a market capitalization of $26.28 billion, a price-to-earnings ratio of 8.08, a PEG ratio of 3.52 and a beta of 0.54. Cincinnati Financial Corporation has a 1-year low of $150.00 and a 1-year high of $194.81.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last posted its earnings results on Monday, July 27th. The insurance provider reported $1.43 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.82 by ($0.39). The firm had revenue of $4.27 billion during the quarter, compared to analyst estimates of $2.71 billion. Cincinnati Financial had a net margin of 23.84% and a return on equity of 9.63%. During the same quarter in the previous year, the business posted $1.97 earnings per share. On average, sell-side analysts expect that Cincinnati Financial Corporation will post 8.31 earnings per share for the current year.

Cincinnati Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 23rd will be given a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Wednesday, September 23rd. Cincinnati Financial's dividend payout ratio (DPR) is currently 17.74%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Keefe, Bruyette & Woods dropped their price target on shares of Cincinnati Financial from $201.00 to $190.00 and set a "market perform" rating on the stock in a research note on Wednesday, August 5th. Weiss Ratings cut shares of Cincinnati Financial from a "buy (a)" rating to a "buy (a-)" rating in a report on Friday. Bank of America downgraded shares of Cincinnati Financial from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $197.00 to $193.00 in a research report on Thursday, July 30th. Atlantic Securities set a $197.00 target price on Cincinnati Financial in a report on Wednesday, July 15th. Finally, Piper Sandler increased their price objective on Cincinnati Financial from $175.00 to $197.00 and gave the company a "neutral" rating in a report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $195.40.

Cincinnati Financial Company Profile

Cincinnati Financial Corporation NASDAQ: CINF is an insurance holding company headquartered in the Cincinnati area of Ohio that provides property and casualty insurance products and related services. Founded as part of the Cincinnati Insurance group, the company operates through a set of insurance subsidiaries to underwrite and service policies for both personal and commercial customers. Cincinnati Financial is publicly traded and emphasizes underwriting discipline and long-term relationships with its distribution partners and policyholders.

The company's core business centers on property and casualty insurance, including homeowners, automobile, commercial casualty, commercial multi-peril, and specialty commercial coverages.

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